Daily real estate briefing: Ho Chi Minh City to demolish 64 old apartment buildings, Thu Thiem land auction and new projects
The real estate market is seeing a series of notable developments in major urban areas. Ho Chi Minh City is expected to relocate and demolish 64 old apartment buildings containing a total of 8,577 units during the 2026-2030 period, with the goal of renovating or rebuilding all of these structures. The city is also inviting international bids for the Tan An 1A Ward new urban area, covering nearly 275 hectares with total investment of more than VND 68.57 trillion, equivalent to nearly USD 2.7 billion. Meanwhile, four land lots in Thu Thiem will be auctioned online on November 27, with a combined starting price of more than VND 16.6 trillion and accompanying financial requirements. From a policy perspective, National Assembly deputy Le Thanh Hoan proposed banning the transfer of contracts for future-formed homes to curb speculation and paper flipping. Market realities also show that financial pressure remains present, as one buyer had to lower the asking prices of two apartments and acc...